Wednesday, August 24, 2022

"Tsunami Of Shutoffs": 20 Million US Homes Are Behind On Power Bills

At least 20 million households— or about 1 in 6 American homes—are behind on their power bills as soaring electricity prices spark what is said to be the worst-ever crisis in late utility payments.

  • Electricity inflation is being propelled by soaring costs of fossil fuels, such as natural gas, coal, and petroleum
  • The highest inflation in forty years eats away wages and has financially devastated the working poor.

Surge in non-payment customers

  • California's PG&E Corp saw a 40% jump in customers behind on payments since February 2020
  • New Jersey's Public Service Enterprise Group saw a 30% rise in customers at least 90 days late
  • People on the bottom are struggling to pay their electricity bills

https://www.zerohedge.com/markets/tsunami-shutoffs-20-million-us-homes-are-behind-energy-bills 

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